“The extent of quantitative relief outside the US, geopolitical developments, India’s liberalization, consumer demand in China and the problems in the eurozone will all be supportive for gold,” writes Standard Chartered in its report.
Michael Widmer, analyst Bank of America, parts Standard Chart Reds’ perceptions and says he expects an average price of $ 1,300 per ounce in the fourth quarter as the effects of the Fed’s interest rate increases slowly begins to decline.
The gold, which fell with 3.4 percent in March and thus was noted for its biggest decline since December 2013, was traded to $ 1,179.62 per ounce on Tuesday.
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